Bist100
SODA BIST 100 TECHNICAL ANALYSIS 141119SODA BIST100 trend is will be upwards wait for confirm MA ,trend line than supp/rest.
ENTRY 5.97
TP1 6.57
TP2 8.06
XU100- Possible Reverse Head&ShouldersTurkish stock index BIST 100 seems like forming a reverse head and shoulders formation.
Target of this formation is first 88.500 which is the height of shoulder, and than 86.000 which is the height of head.
After completing this move, a great opportunity is to buy this index because prior to this correction, prices were around 120.000. For the last 20 years annual increase rate of this index is around 24%
Tomorrow BIST100 may bounce back from support Downtrend line started in July 30th (orange) is still working neatly. Second time value touched to orange resistance on August 8th, steep downfall has been started. Now 96069 is a very important support. I think that support will stand still against the fall and bounce the value upwards. Tomorrow we can see just a little bit more downmove and than a steep move to 97000’s. Even it may break the resistance and go to 97790 - 98990 channel.
For the timing of buying and playing long, we can watch the RSI to break the downtrend line and watch the moving average line will pass thorough bollinger middle band. That would be the right time to go in. Of course we have to put our stop loss on just below the 96069 support line.
Good luck!
EKGYO may continue to fallTurkish REIT EKGYO (Emlak Konut GYO) is currently at a value (1,21) far below normally it should be (2,37-3,32). At first sight it seems a great buying opportunity. Now let's look at the chart more carefully.
When we look at the weekly chart, it is still in the downward channel, and the uptrend it catches since the end of May looks like the reaction within this channel. Likewise, an upward trend has started on the RSI side, but it has not yet broken the long downtrend. Moving average showed a reaction, but it's still below the bollinger middle band.
When we come to the daily chart; With the downtrend started in March, the uptrend started in late May seems to have formed a triangle, and it looks like there might be a hard upward or downward movement in a week or two. The RSI bounced back from the resistance of the March downtrend and broke down uptrend support. Parabolic SAR has also started to show a decline. A single indactor left which is Moving Average indicator is still above the Bollinger middle band, with its break (the Moving Average on the 4-hour chart broke the Bollinger middle band). If the triangle is broken down, the targets will be 1.13 and 1.06. Below 1.06 is completely empty. This downward trend is expected to be completed for medium and long term purchases. In the short term, experienced friends in the stock market may see more trading opportunities.






















